How will the business losses of a unit / business sold as slump sale, be treated in the books of the company? Will such business losses will be available to be set off against other business profits in subsequent years or unabsorbed accumulated losses of the slump sale unit gets transferred to the new company and available for set off, or on sale of such unit, the related accumulated business loss get extinguished ? Please clarify?
Carry forward of looses of a unit sold as slump Sale
Anurag Sharma (Service) (65 Points)
22 June 2010